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Resolution - #97-07-172 - 07/08/1997
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Resolution - #97-07-172 - 07/08/1997
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Resolutions & Ordinances
Resolutions or Ordinances
Resolutions
Resolution or Ordinance Number
#97-07-172
Document Date
07/08/1997
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Section 3. Approval and Authorization. <br /> <br />1.031. <br /> <br />That subject to the holding of a public hearing according to law and subject to the mutual <br />agreement of the City, the Company and the initial purchaser of the Bonds as to the <br />details of an indenture, loan agreement and/or other documents necessary to evidence and <br />effect the financing of the Project and the issuance of the bonds, the issuance of revenue <br />bonds of the City, in one or more series, in an amount not to exceed $5,200,000 is hereby <br />preliminarily approved and authorized to finance the Project. <br /> <br />1.032. <br /> <br />That neither this preliminary commitment nor any actions, agreements, or legal matters <br />related hereto or executed in pursuant hereof, shall in any manner or form create an <br />indebtedness of liability of the City. <br /> <br />1.033. <br /> <br />That the passage of this resolution does not finally commit the City to issue the Bonds <br />nor, if applicable, establish priority for purposes of staying within the limitations <br />established by federal law for the amount of private activity bonds that may be issued by <br />the City of Ramsey, or the State of Minnesota. <br /> <br />Section 4. Public Hearing. <br /> <br />1.041. <br /> <br />That since a public hearing, after notice according to law, is required for final approval of <br />the issuance of the Bonds, a public hearing on the issuance of the Bonds shall be held at <br />Ramsey City Hall, 15153 Nowthen Boulevard NW, Ramsey, Minnesota, on a date to be <br />determined by the City Administrator and the City Administrator is hereby instructed to <br />give notice of such public hearing according to law. <br /> <br />1.042. That the form of public notice attached to this Resolution is hereby approved. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Beahen, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councilmember Beahen <br />Councilmember Zimmerman <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />and the following abstained: <br /> <br />None <br /> <br />RESOLUTION #97-07-172 <br /> Page 2 of 3 <br /> <br /> <br />
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